A group of hedge funds reaps rewards for backing an $18 billion restructuring of Puerto Rico’s sales-tax debt
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Puerto Rico Wins Approval of $18 Billion Bond RestructuringPuerto Rico won court approval for a restructuring deal that wipes out one-third of its $18 billion in sales-tax bond debt, a milestone in its quest to fix its broken finances.
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Housing is key to Puerto Rico's recovery. Will 2019 see promised funding, solutions?The U.S.territory needs to urgently tackle issues such as 'widespread informal housing' and 'the exorbitant amount of abandoned spaces” as it rebuilds after Hurricane Maria.
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Federal judge approves substantial debt restructuring deal for Puerto RicoFederal bankruptcy judge approves a major debt restructuring plan for Puerto Rico in the first deal of its kind for the US territory since the island's government declared nearly 4 years ago that it was unable to repay its public debt.
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UK scraps Brexit ferry deal with firm that has no shipsLONDON (AP) — The British government has canceled a contract to ship goods to the country after Brexit with a company that turned out to have no boats and no experience running a ferry service. Authorities had been criticized for the 13.8 million pound ($18 million) deal with Seaborne Freight, part of plans to keep trade flowing if Britain leaves the European Union without a divorce deal. The Department for Transport said Saturday that it had ended the contract because an Irish firm that was backing Seaborne Freight had withdrawn its support.
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